A cyber-attack has never taken down a U.S. fuel pipeline quite as big as the Colonial Pipeline. It’s the nation’s largest gasoline, diesel and jet fuel system and a critical source of fuel supply for the U.S. Northeast.
A rally in one of Asia’s best-performing stock markets is stalling amid rising virus cases at home and a rethink of the global reflation trade.
Wall Street is bracing for flurry of new debt sales next week, with two jumbo deals expected to kick off the busiest primary high-grade calendar since mid April and high-yield issuance poised for a record first-half.
It’s all very simple. The economy isn’t strong enough for the Federal Reserve to taper stimulus, therefore stay-at-home tech shares will rally. And any efforts to heal the economy are likely to drive up inflation, meaning banks and airlines will benefit.
The prospect of a rebound to 2% yields on the world’s benchmark bond is alive and well.
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